Financial stocks led the Dublin market yesterday, rising 1.84 per cent as the ISEQ index nudged ahead by 0.81 per cent to close at 5,115.46.

Dealers reported "reasonably good" demand for Bank of Ireland shares, which gained about 3 per cent to close at €6.93 - more than reversing a six-cent fall from €6.78 a day previously. Irish Life & Permanent followed this trend, gaining 12 cents to close at €8.47.

Reports that AIB may yet face a £250 million bill arising from the DIRT inquiry failed to dampen demand for the bank's stock which continued its rise, adding 10 cents to close at €9.50 a day after it rose 15 cents.

Yet the performance of industrial stocks was mixed.

Discount airline Ryanair remained strongly in favour, adding just short of 5 per cent, or 40 cents, to close at €8.50. Investors in the airline, which reported a 19 per cent rise in pre-tax profits last month, remained confident of its strategy, a dealer said. "Ryanair is doing everything right," he said.

But other general stocks, such as building materials supplier CRH, suffered reverses. The group closed down 24 cents at €18.50 despite recent upgradings by certain brokers after reporting that it had spent €339 million developing its business in the first six months of the year.

Dealers said pharmaceutical firm Elan suffered a degree of profit-taking before gaining 38 cents to close at €55.

Packaging group Smurfit rose six cents to close at €1.93. Jurys Doyle hotel group fell nine cents to €7.21, still ahead of its €7.10 close before reporting a 70 per cent rise in pre-tax profits on Tuesday.

Irish tech stocks were stronger yesterday on the Nasdaq exchange in New York. Smartforce was up some 5.71 per cent in afternoon trading, at $50 7/8, while Baltimore Technologies was up 5 per cent at $15 3/4. Trintech, which revealed its mobile commerce strategy yesterday, was trading at $20 1/8, up 2.55 per cent. However, Iona was down 1.44 per cent at $0.77 during the afternoon.